- Levitee Labs has been listed on the Canadian Securities Exchange
Levitee Labs Inc. (CSE: LVT) is pleased to announce that it has received final approval from the Canadian Securities Exchange (“CSE“) to list its common shares on the CSE. At the opening of the market on July 21, the common shares of Levitee will begin trading under the ticker symbol “LVT”.
Levitee is a functional mushrooms company focused on the development and sale of high potency mushroom extract nutraceuticals and supplies and equipment for mushroom cultivation. The Levitee leadership team is composed of diverse and complementary skillsets, deriving from past successes in entrepreneurship, clinical research, venture capital, M&A, operations, technology and psychedelics.
The Company currently operates two divisions: Sporeo Supply, which manufactures proprietary, premium mushroom cultivation feedstock at its state-of-the-art facility in British Columbia; and MONK-E Nutraceuticals, which produces a line of adaptogenic mushroom-based nutraceutical supplements with a core focus on mushroom extracts. Through multiple executed letters of intent (“LOIs“), Levitee also hopes to soon complete four acquisitions that will expand its portfolio of assets:
- ACT Medical Inc., a group of six (6) addiction clinics and three (3) specialized pharmacies treating over 20,000 addiction and pain management patients annually;
- Earth Circle Organics Inc., an online DTC (direct-to-consumer) and wholesale superfoods and supplements brand primarily operating in the United States;
- BODIE Phytoceuticals Ltd., a functional mushroom-based tea company; and
- 1253135 BC Ltd., a late-stage applicant for a Controlled Drugs and Substances Act (CDSA) license from Health Canada.
The Company is well capitalized to achieve these milestones, following the closing of an oversubscribed non-brokered private placement carried out in February 2021, which raised aggregate gross proceeds of CDN$10,570,000. To date, the Company has raised in excess of CDN$12 million in outside funding.
“We believe the timing could not be better for us to enter the public markets on the CSE, an exchange well recognized for innovators and disruptors,” “We are early in a truly exciting period in healthcare where psychedelics and mushroom-based therapies and supplements represent an opportunity to provide meaningful benefits to millions of people in need where conventional medicines have collectively failed in the areas of mental health, chronic pain and substance abuse. We are cementing cornerstones of our diversified growth strategy that will distinguish us as a market leader in multiple verticals and we look forward to sharing more developments respecting our roll-up strategy and activities with shareholders.”
Pouya Farmand, Chief Executive Officer of Levitee
About Levitee Labs
Levitee is a functional mushrooms company, focused on the development and sale of high potency mushroom extract nutraceuticals and supplies and equipment for mushroom cultivation. Levitee believes, based on a growing body of research, that mushrooms can be an effective way to enhance wellbeing and potentially treat various kinds of mental and physical health problems. Through a disciplined M&A strategy, Levitee hopes to soon complete four acquisitions that will expand its portfolio of assets in the emerging integrative wellness space. Further information about the Company is available on its website at www.leviteelabs.com.